The association called for accounts reconciliation to ascertain the alleged indebtedness of marketers to government
Browsing: Forte oil
Julius Omodayo-Owotuga, Forte Oil Group Executive Director, Finance and Risk Management, said this at a news conference in Lagos
The News Agency of Nigeria reports that Mobil Oil led the price losers’ table with a loss of N5 to close at N280 per share.
As a result, the market capitalisation, which opened at N9.020 trillion, improved by N8 billion or 0.09 per cent to close at N9.028 trillion
The News Agency of Nigeria reports that the market capitalisation shed N19 billion or 0.21 per cent to close at N9.059 trillion compared with N9.078 trillion achieved on Wednesday
The News Agency of Nigeria reports that the market capitalisation, for the second trading day, lost N42 billion or 0.46 per cent to close at N9.116 trillion compared with N9.158 trillion recorded on Tuesday
Forte Oil led the gainers’ table with a gain of N9.65 to close at N103.87 per share
The News Agency of Nigeria reports that Seplat led the losers’ table with a loss of N19.50 to close at N370.50 per share
The News Agency of Nigeria reports that the market capitalisation lost N15 billion to close at N9.132 trillion compared with N9.147 trillion on Monday
Consequently, the All-Share Index appreciated marginally by 2.57 points or 0.01 per cent to close at 25,673.80 against 25,671.23 achieved on Tuesday
The funds raised would be used to refinance existing short-term commercial bank loan obligations and the retail outlet expansion of the company
The News Agency of Nigerian reports that the market capitalisation closed lower at N9.403 trillion from the N9.575 trillion recorded on Wednesday
The News Agency of Nigeria reports that the All-Share Index recorded marginal gain, appreciating by 70.18 points or 0.25 per cent to close at 27,880.46 compared with 27,810.28 recorded on Tuesday
Similarly, the All-Share Index recorded marginal gain, appreciating by 102.36 points or 0.36 per cent to close at 28,805.45, compared with 28,703.09 recorded on Thursday.
Ambrose Omordion, the Chief Operating Officer of InvestData Limited, attributed the development to market correction and profit-taking embarked on by investors
The reaction of Forte Oil, which has Otedola as Chairman, was sequel to the news making the rounds that it had reduced the cost of petrol to N115 from N145
Similarly, the market capitalisation, which opened at N9.255 trillion, lost N17 billion or 0.18 per cent to close at N9.238 trillion.
An analysis of the price movement table indicated that Nigerian Breweries recorded the highest price loss to lead the losers’ chart, dropping by N6.08 to close at N115.72 per share
He said the completion of the major overhaul of Geregu Power Plant to improve its installed capacity of 414 megawatts with an additional 21 megawatts would increase its operating margin and enhance profitability
Otedola was the second Nigerian to make the FORBES billionaires list in 2009
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